What is Augur? (in 60 seconds)
Published in
1 min readMay 6, 2020
Augur (REP) is a decentralized oracle prediction platform. The platform allows community members to trade/bet real world events through a four-stage progression: creation, trading, reporting, and settlement. After the market is created traders can immediately speculate (hypothesize/bet) on the outcome of an event. Reporters verify the outcome of the event by staking REP on the actual outcome. This consensus of the reporters is called “Truth”, allowing the markets to reflect accurately. Reporters are incentivized through rewards from the fees accrued through traders on the markets.
